High Yield Portfolio Manager

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Progressive is dedicated to helping employees move forward and live fully in their careers. Your journey has already begun. Apply today and take the first step to Destination: Progress.

As a high-yield portfolio manager, you'll help manage Progressive's high‑yield bond portfolio, delivering strong total returns while protecting the company's balance sheet. In this role, you'll set investment strategies, make informed credit decisions, and maintain close connections to markets, issuers, and credit trends. You build and manage portfolios aligned to investment objectives and conduct in‑depth issuer and industry research. Additionally, you'll implement buy, hold, and sell decisions across the capital structure and actively manage risk, liquidity, and exposure through market cycles.

Must-have qualifications

• Bachelor's degree and a minimum of 7 years of relevant work experience.
• {OR} Master's degree or higher and a minimum of 5 years of relevant work experience.

Preferred skills

• Knowledge of high-yield strategies, bond math, yield curve dynamics, accounting, corporate credit analysis, covenants, macro-economics, and market regulations.
• Prior experience presenting investment ideas in an organized and clear fashion.
• Demonstrated skills defining problems, collecting and analyzing data, and drawing valid conclusions.
• Ability to assume and manage investment risk.
• Strong relationship-building skills with the ability to maintain relationships with dealers and complete trades.

Compensation

• Base: $250,000 - $325,000/year depending on position level and experience
• Gainshare annual cash incentive payment up to 110% - 180% (depending on position level) of your eligible earnings based on company performance and experience
• Participation in our restricted stock units plan

Benefits

• 401(k) with dollar-for-dollar company match up to 6%
• Medical, dental & vision, including free preventative care
• Wellness & mental health programs
• Health care flexible spending accounts, health savings accounts, & life insurance
• Paid time off, including volunteer time off
• Paid & unpaid sick leave where applicable, as well as short & long-term disability
• Parental & family leave; military leave & pay
• Diverse, inclusive & welcoming culture with Employee Resource Groups
• Career development & tuition assistance

Equal Opportunity Employer

Sponsorship for work authorization for foreign national candidates is not available for this position.

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